Money Section Index

Is a Loan the best option?

If you are short of cash on a day-to-day basis, a loan is not necessarily
the best way forward - if your outgoings are regularly more than your
earnings, then a loan will be at best a temporary fix. You might feel
better off for a while, but unless you increase your income, reduce
your expenses or preferably both, you'll end up back to square one sooner
or later!

Check out our pages to help you get started in a work at home business
to make extra cash and find out how you can save money on your gas and
electricity bills.

What about Loans?

If you are short of cash on a day-to-day basis, a loan is
not necessarily the best way forward - if your outgoings are regularly
more than your earnings, then a loan will be at best a temporary fix.
You might feel better off for a while, but unless you increase your
income, reduce your expenses or preferably both, you'll end up back
to square one sooner or later!

Still thinking about a loan?

While we are not lenders, brokers or introducers, we have put some
general information on the site which might help you understand the
advantages and disadvantages of the various types of loan and cards
available.

Bear in mind that the information given may not apply to your particular
circumstances and we strongly advise that you take professional
advice or contact the citizens advice bureau before taking out
a loan or entering debt management or similar.

Types of loan

This is secured on your property by the lender. This means that
the lender has little risk of losing any money and so can offer
a lower APR (Annual Percentage Rate) than would be available with
an unsecured loan. In the case of a good credit history lenders
can often offer secured loans to a higher proportion of the equity
available in the property.

An unsecured loan can cost more in repayments but does not carry
the risks of a secured loan. If you don't repay it, the lender can't
easily take your house off you. For this reason, it can be difficult
to get unsecured loans if you've had problems in the past with late
or missed repayments on loans or credit cards.

Payday Loans can be easy and quick to get - the money can be in
your account on the same day. But payday loans should be
used with caution and only as a short-term solution for
days or - weeks at most as they have a high APR. If you don't repay
within the timescale of the loan, you can be hit with very high
charges and interest.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP
UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

The content of this site is presented as a resource of general information only - we do not act as lenders, brokers or introducers.

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